Open letter to South Africa’s students‚ universities and government‚ represented by Minister in the .
SIGNIFICANT trends included the finding that:
l The value of new mortgages granted increased by 18,33percent from R17,8billion in September 2009 to R21billion in December 2009. In the quarter to December 2007 mortgages to the value of R53billion were granted.
l Secured credit showed an increase from R20billion in September 2009 to R23,6billion in December 2009 - a quarter-on-quarter increase of 17,32percent.
l Unsecured credit - made up mostly of micro lenders, but also including bank loans, increased most significantly by 25,8percent from R8billion in September 2009 to R10,5billion in December 2009 - an increase of 32,7percent since the December 2007 quarter.
l Individuals who earn gross monthly income of more than R15000 a month received on average 80percent of the mortgages granted over the period December 2008 to December 2009. - Sapa